Israelis sold $388m in foreign stocks in September

Bank of Israel: Most of the sales in September were by investment institutions, which changed their policies.

9 November 11 11:31, Globes' correspondent

Israelis sold a net $388 million in foreign shares in September 2011, reversing the trend of the two preceding months, the Bank of Israel reported today. Israelis bought a net $737 million in foreign shares in August and $789 million in July.

The Bank of Israel says that most of the sales in September were by investment institutions, which changed their policies. Investment institutions sold a net $124 million in September, after net purchases of $760 million in July and August each.

Israelis also sold a net $322 million in tradable foreign bonds in September, after selling a net $294 million in August, and buying a net $75 million in July.

Direct foreign investment by Israelis totaled a net $269 million in September, compared with net sales of $34 million in August, and net investment of $44 million in July.

Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2011

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